Milan — Alberto Vacchi, president and CEO of Ima, brings in new shareholders, studies US acquisitions and Wall Street IPO of a leading packaging manufacturer that targeting 5 billion revenues.
How did 2023 go, what are the prospects for 2024?
“The year 2023 was very positive for us turnover exceeded 2.3 billion: one organic growth important, given that we closed 2022 with almost 2 billion in sales. Despite the instability of the international context, due to the war in Ukraine, to which the one in Israel was added, the industrial activities using the lines of our machines continued to invest in more powerful systems, and also the orders and prospects for this year are positive. Ima has a competitive advantage through its diversification serving sectors essential to humanity, such as pharmaceutical, food and electrical mobility, in which we have invested massively and where we estimate that we will double revenues within three years. We are also leaders in many cutting-edge products and services, constantly innovating and enriched with the latest technologies, starting with digitization to produce ever more intelligent systems.”
But isn’t a strong sensitivity to environmental issues a risk?
“There is certainly discussion about packaging perspectives, especially due to plastics scattered in the environment. It happened especially at the EU level radical attempts to limit packaging through very strict guidelines, then relaxed from the awareness of the need for the functions that the packaging expresses. They have these pressures accelerated the already ongoing process, i.e. the research of new materials biodegradable, recyclable, compostable to reduce the impact of plastics on the environment. total, sustainable packaging which we are working on a big commitment to be primarily in support of essentially green industry, and not with the cosmetic politics of greenwashing.”
Which industries do you think are best placed in this economic phase?
“Ima derives resilience in market dynamics from its diversification and in recent years, all sectors in which we operate show good results cwhich added up to the effects on rapid sales growth while maintaining high margins, typical of quality Italian production that exports. This momentum has accelerated the industrial and financial plan shared with Bc Partners over the past three years. We firmly believe in Pharma through continuous innovation, sterile systems, integration between precision mechanics and automation, and advanced digitization. The food sector should benefit from new environmentally friendly materials. Primarily we are waiting for a vertical takeoff into the world of electric mobility and batteriesin which we have invested a lot.’
The Vacchi family has 55%, you increased your share. What is the involvement of the various branches?
“The growth of Ima has led to the development of new structures compared to the company in which it invested the Vacchi family believe, with insight, in the minds of “machine inventors” who got rich from Italian production. Today we need large investments and dimensions capable of facing the open sea of the global marketTherefore, alliances, new capital and a broadening of the social base are needed.
It is also normal for different family heirs to have different aspirations and goals. In our case, the picture is clear, first my father and then I took care of the management, our relatives were part of the board of Ima and believed in our work, we never had conflicts and this was our luck and it made our job easier.”
I understand that your cousin Gianluca Vacchi wants to sell to invest in his entrepreneurial journey…
“That’s true, I confirm that Gianluca Vacchi will be released shareholder structure to follow his entrepreneurial journey, certainly successful, given his creativity and financial knowledge. But I want to point this out My cousin and I have a very close relationship and there were never any conflicts. In a future Ima setting, my cousins and I will be in control of Ima along with a bunch of others prestigious investors who will be minority shareholders of our extended finance company, which controls 55% of Ima. It’s important management team and consultants who built a modern Ima with me, firmly in command. And that the Ima model is one that new members believe in, and which we are determined to stay on as investors and in my case as President and CEO».
Bdt & Msd Partners took equity stake from Bc Partners, what strategies did you share?
“We and Bdt & Msd Partners have cshared a challenging strategic plan for growth, but realistic. Ima’s growth potential is believed to remain high due to the nature of our business: pharmaceuticals, food, e-mobility and batteries. The values assigned to Ima by Bdt & Msd Partners demonstrate the credibility of a winning industry model that outperforms other comparable manufacturing companies, both in terms of sector and size. We want to strengthen Ima’s ability to develop large projects with high technological content, digitization and automation, in accordance with the principles of sustainable development”.
Have you chosen this new US growth partner?
“Of course, as has been said several times, we have started a journey that will lead us to strengthen our presence in the US. AND the alliance with BDT & MSD Partners will facilitate this goal. We did not choose this type of investor just to replace Bc Partners, with whom we also shared an important industrial plan and a good growth path. Bdt & Msd Partners it is the ideal travel companion to continue on the path of organic growth, but not only by the company gaining an increasingly global dimension.”
There is talk of a possible marriage with ProMach, of which Btd & Msd Partners has 50%…
“As for ProMach, even before our meeting with Bdt & Msd Partners we identified this reality to connect with. The fact that BDT & MSD Partners acquired 50% of ProMach will necessarily lead to strong interactions between us. The challenge is great, it’s about creating a group with more than 5 billion in sales, with high synergy and able to face challenges packaging in the service of the industry of the new millennium».
Ima has always talked about a possible return to the stock market, are you considering an IPO on Wall Street?
«I can’t rule out a new entry on the Ima exchange. Especially if the new structures give us the certainty of success. To be alongside a fund led by great visionaries experiences like Byron Trottwhich decided to enter the world of automata, ibid it also makes Wall Street look interested».